Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Analysts at William Blair reduced their Q3 2024 earnings estimates for shares of Planet Fitness in a note issued to investors on Tuesday, August 6th. William Blair analyst S. Zackfia now expects that the company will earn $0.58 per share for the quarter, down from their previous estimate of $0.62. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. William Blair also issued estimates for Planet Fitness’ FY2025 earnings at $2.78 EPS.
A number of other research firms also recently commented on PLNT. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler lifted their price target on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday. Royal Bank of Canada raised their target price on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Roth Mkm boosted their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.87.
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Planet Fitness Stock Up 3.3 %
Shares of NYSE PLNT opened at $78.23 on Friday. The firm’s 50-day simple moving average is $72.91 and its 200 day simple moving average is $66.96. The stock has a market cap of $6.90 billion, a P/E ratio of 44.96, a P/E/G ratio of 2.44 and a beta of 1.49. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $79.10.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. During the same quarter in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.
Insider Transactions at Planet Fitness
In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.94% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Planet Fitness
Institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Planet Fitness in the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after buying an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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